According to a new report of Zion Market Research, the global cannabis edibles market was valued at approximately USD 2,376 million in 2018 and is expected to generate around USD 11,564 million by 2025.
The growing acceptance of cannabis is the key factor likely to drive the cannabis edibles market globally in the future. The opinion about cannabis is changing and its adoption is increasing globally, which is projected as a lucrative business opportunity for this market in the upcoming years.
The legalization of cannabis in Canada is attracting an extensive range of market players. Moreover, the high popularity of cannabis for medical purpose is also anticipated to drive the cannabis edibles market globally over the estimated timeframe.
For medical use, cannabis products are extensively accepted in Canada, the U.S., Spain, Israel, Chile, Australia, and Germany. The growing use of cannabis for Alzheimer’s and arthritic diseases is further expected to propel the global cannabis edibles market in the upcoming years. Therefore, increased social recognition related to cannabis across various regions is likely to offer significant opportunities in the cannabis edible products market in the future.
The global cannabis edibles market includes solid edibles, topical edibles, inhalation, and liquid edibles.
Solid edibles are estimated to hold a major share of the global cannabis edibles market in the future. Consumption of cannabis edibles includes the ability to benefit from the properties of cannabis without smoking the flower or vaporizing distillates.